Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to facilitate the sale of 25–27 Mercer Street, comprising two adjacent ground-floor retail condominiums in the heart of SoHo, Manhattan. Positioned on the west side of Mercer Street between Canal and Grand Streets, the properties occupy a single 6,185-square-foot tax lot and offer approximately 62 feet of combined frontage. Both units will be delivered vacant, presenting a compelling opportunity for investors to capitalize on strong leasing fundamentals in SoHo or for user-buyers seeking to own space within one of Manhattan’s premier retail corridors.

Located at the base of a 5-story building, 25 Mercer Street features 3,005 square feet at grade plus 2,684 square feet below grade for a total of 5,689 square feet. Immediately next door, 27 Mercer Street is situated at the base of a 3-story building. The space includes 2,571 square feet on the ground floor and an additional 1,332 square feet below grade for a total of 3,903 square feet.

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Attributes

Neighborhood

SoHo

Block / Lot

230 / 1401

Above Grade SF

5,576

Below Grade SF

4,016

Total SF

9,592

Lot Dimensions

61.85' x 100'

Lot SF

6,185

Zoning

M1-5 / R7X

In-Place Taxes

$98,214

Common Charges

$22,303

Media

Investment Highlights

Prime SoHo Location With Deep Tenant Demand

Located in the core of SoHo, 25-27 Mercer Street benefits from one of the most established and resilient retail corridors in New York City. The immediate area is characterized by a concentration of luxury and contemporary brands alongside a curated mix of boutique retailers and experiential concepts. This highly desirable submarket continues to demonstrate strong tenant demand driven by limited availability, global brand presence, and consistent pedestrian traffic.

The Return of the Owner-User

Users are back in a meaningful way across the NYC retail market, with leading brands increasingly choosing ownership over tenancy. Landmark purchases by Nike at 611 Broadway, Alo at 90 Wooster Street, Everlast at 29 Greene Street, and IKEA at 529 Broadway exemplify the resurgence of owner-user activity and reinforce the enduring appeal of premier New York retail real estate.

Strong SoHo Retail Fundamentals

SoHo continues to demonstrate robust leasing demand, with vacancy at its lowest level since 2017 and asking rents rising 2.2% year over year—underscoring the market’s continued rent growth and long-term investment stability.

Vacant, Plug-and-Play Opportunity

Delivered fully vacant, the asset provides immediate flexibility for lease-up, repositioning, or end-user occupancy.

Expansive Frontage & Visibility

The offering features approximately 62 feet of combined frontage along Mercer Street, delivering strong branding potential and visibility in a prime retail corridor.

Excellent Transportation Access

Easily accessible via numerous subway lines ( N Q R W 6 J Z A C E ), providing strong connectivity for both consumers and employees.